WESTLAKE VILLAGE, Calif., Nov. 22, 2002 (PRIMEZONE) -- In response to inaccurate reports by media sources earlier today that reported the company had lowered its earnings guidance, United Online, Inc. (Nasdaq:UNTD) today stated that it had not lowered guidance and reaffirmed the guidance it had provided for its fiscal year ending June 30, 2003, and for its second fiscal quarter ending December 31, 2002. The company's guidance was included in its fiscal 2003 first-quarter earnings announcement on November 7, 2002.
Included in its guidance provided on Nov. 7, 2002, the company projected pro forma net income for the quarter ending December 31, 2002, of between $6.6 million and $7.3 million, or between $0.15 and $0.16 per share. The company reported pro forma net income of $6.5 million, or $0.15 per diluted share, for the quarter ended September 30, 2002. Pro forma net income represents GAAP net income before amortization and restructuring and merger-related charges, and is presented on a basis consistent with the analyst consensus estimate as reported by First Call.
The company also provided guidance for GAAP net income for the quarter ending December 31, 2002, between $2.5 million and $3.1 million, or between $0.06 and $0.08 per diluted share. The company reported GAAP net income of $1.5 million, or $0.03 per diluted share, for the quarter ended September 30, 2002.
About United Online
United Online, Inc. is a leading provider of value-priced Internet access through its NetZero and Juno consumer brands. The company's services are offered at less than half the standard monthly prices of its major competitors and are available in more than 5,000 cities across the United States and in Canada. United Online has approximately 420 employees worldwide and is headquartered in Westlake Village, Calif., with offices in New York City and Hyderabad, India. For more information about United Online and its Internet access services, please visit www.untd.com.